PRZOOM - /newswire/ -
Kansas City, MO, United States, 2008/07/03 - The National Portable Storage Association sees merger activity and the attention it spawns as positive for overall industry.
The big news in the portable storage industry is the merger between Mobile Mini and Mobile Storage Group. The National Portable Storage Association is keeping a close eye on industry consolidation and its impacts.
"There is some confusion around the consumer side and the commercial and industrial sides of the portable storage industry," said John Finnessy, CMP, Executive Director of the National Portable Storage Association, or NPSA, a nonprofit membership association dedicated to the advancement of the portable storage industry.
"Most of our members do not have local store branches, like the PODS style portable storage companies," Finnessy continued. "They sell or lease containers to businesses, universities, government agencies and other commercial uses. Still, it is interesting to observe the consolidation in the franchise side of portable storage."
Mobile Mini and Mobile Storage Group finalized their merger on June 27. But this was not the only merger or acquisition going on within the industry. An affiliate of Arcapita, a private equity investment firm, acquired PODS, for about $430 million in December 2007. PODS cited opportunities for growth as the reason it agreed to be acquired. For the new Mobile Mini, it's expected that they will enlarge their geographic footprint and gain synergies and capital expenditure reductions that the merger will allow, up to $25 million a year, specifically.
"Although PODS focuses more on door to door delivery of portable storage solutions to consumers and Mobile Mini focuses on commercial entities, the spotlight on portable storage is welcome to NPSA members," said NPSA Operations Manager Joel Rathbone. "The more we can pull together and educate portable storage users, from large commercial outfits to single-family home owners, the better it is for everyone involved."
The National Portable Storage Association
The National Portable Storage Association is dedicated to the advancement of the portable storage industry. We at the NPSA are here to serve those in the portable storage industry who rent, sell or lease containers, trailers and mobile offices. The NPSA assists members with industry, regulatory and workforce issues; plus, offers members networking, marketing and legislative support at national, state and local levels.